What is the best way to display your Pricing: Interactive or Traditional -
The method you present SaaS pricing should not be considered as an afterthought. It's a method that should be engaging and straightforward for potential customers.
Pricing is one of the most effective ways to build trust with your prospect, and when it is done correctly it can help build momentum within the selling funnel. It is able to be among the most interactive, personalized and measurable portions of the process.
The first step towards developing this kind of experience is to examine your methods used to create, display and communicate your prices.
Meet the ultimate villain in this scenario the standard Office Suite software.
If you're currently using the Office Suite software to display SaaS prices, you're in the right place to provide your pricing with an update. Read on for expert advice regarding how to implement the change.
What NOT to do How to Display Pricing: Conventional Ways to Display Pricing
1. Utilizing Sheets to Display SaaS Pricing
The things you need to change: Using sheets does make it look professional. They are dull and extremely manual , and your pricing shouldn't be any different. You can't personalize your pricing making use of a worksheet that isn't personalized, which is crucial in building relationships with prospective customers. It's easy to get lost in the numbers, and it can take a long time to develop.
Advice from a Seller That Changed Mike Wright, Co-Founder and CEO at MESH/diversity switched from using spreadsheets to an online pricing tool. The company's CEO says:
"Leveraging the power of pricing tools is a game-changer since it permits you to stay consistent. It gives you your history of your progress in your hands, and it allows the user to take decisions in the future using the historical information and in a more efficient method than looking up proposals from the past or re-reading old versions of your worksheets."
Things to think about: Try incorporating personalized options that allow your prospects to select the best option for their needs when you display SaaS pricing structures. For a better experience than using spreadsheets, you can use program that can save all of your previous quotes so you can easily pull in prices and then automatically fill in the calculations of prospects. So, you will no require spending your time creating sheets and manually doing the math for every new deal.
2. Use Slide Decks to display SaaS Pricing
The next slide...next slide... Next pricing strategy.
The things you need to modify: Sending decks to prospects seems like an easy way to showcase your pricing in a pleasing layout. Although they seem engaging but they are a one-dimensional format. When you use slide decks, you're wasting opportunities to gather information and make informed follow-ups. Pricing will give you an upper edge and let you know how often your customer sees your pricing and ensure they fully understand the pricing that is shown.
Tips from a Seller who switched:Stefan Kollenberg, co-founder of Crescendo has switched from slide decks to the pricing tool which provides information and live analytics. The company's founder claims:
"I would have my pricing in the back of a sales deck in one slides. I had no idea if customers] were going into the deck to kind of alter it, select several options, or go at the various tiers we offered. The idea is to get as much data you can on what pricing worked, what didn't .">
What you should consider: Without data from prior deals, you'll not be able to adjust for future customers or know what works best for your prospective customers. You should consider using a tool that allows you to gain information in real-time, and keep track of the entire pricing.
3. Using Email for Displaying SaaS Pricing
How many emails do you receive in the course of a single day? Everyone has the same answer: too many.
What you should modify: Scrolling through endless emails trying to find the right information can be time-consuming, and frankly annoying. The act of expressing your price via emails can extend the time it takes to close the transaction, since it's one of the least effective ways to communicate prices.
Tips from a seller Who Switched: Jack Hannah, Sales Team Leader at LinkSquares He changed from emailing for communicating pricing, to using an interactive tool for pricing. He says:
"A large portion of our conversations took place in a conversational manner and would be followed up with an email summation as a way of making certain that everyone understood what we were actually discussing. [Now] we're able to effectively share our screens and have a much more professional, structured conversation around price, which can lead to a much clearer conversation that requires more minimal back and forth ."
The things you need to consider: Avoid the headache and create seamless communication with your prospects using a tool designed for swift and efficient communication. This tool will let your customers find all the data they require fast, but it'll also display all of their customized pricing and pertinent data clearly.
4. Collaboration Software used to display SaaS Pricing
Software and tools that collaborate have undisputed value to your sales process, but when you're using the software as your main pricing display instrument, then you're likely to get into an out.
The things you need to make changes to: Collaborative tools such as those used for internal communication or brainstorming, aren't suitable for displaying SaaS pricing. Misusing tools in an attempt to show your prices is sure to result in producing a disorganized presentation, and causing confusion for your prospective customers. There are numerous amazing tools designed to assist, but using an instrument for a pricing purpose that wasn't created for pricing you are automatically going to run into many problems that may ruin the deal.
Tips from a seller Who Switched: Mike Pinkus, Partner at ConnectCPA previously used the collaborative software for creating an interactive experience for pricing before the switch to a price platform that incorporates interactivity into its core. He states:
"We used an online platform that was not specifically designed as being an online sales platform. It was certainly not professional, since we used it for the wrong purpose. Now [after switching] the cleanliness as well as professionalism. All is clean and it's designed in a way that suits the purpose for sales ."
The things you need to think about: Misusing software may appear like a cost saving option however, in the long run, it will actually result in more problems than it can solve. Making your pricing procedures more flexible with software created to cater to your specific needs will benefit your business while providing an improved buying experience for prospects.
5. Utilizing PDFs to Display SaaS Pricing
There are many who have used the old-fashioned PDF. Sure, you had your designer make everything beautiful and branded However, the reality is that it's really just a slow and ineffective way to display SaaS pricing.
What you should change: Prospects can't engage with the PDFs you provide the same way as they would with a slide deck. After your prospective customer downloads the PDF, there's no way to determine how many times the file has been accepted or the number of times it's been opened. Making edits or changes is a tedious process that eats up unnecessary time.
Tips from a Salesperson Who Changed:Ross Simmonds, Founder of Foundation Marketing Foundation Marketing, brought his pricing to life by switching from stale PDFs and moving to an interactive price.
"We had a PDF showcasing three pricing levels of what we can do to assist our customers. The PDF was edited] every time a client came knocking. We always tried to make both our spreadsheets and us pretty, but in doing this, we couldn't provide the same amount of detail. We no longer need to ruffle between all of these tools in order for putting together a system, we can just utilize Interactive Quotes ."
Consider these: The only interactive advantage PDFs provide is the option to sign on the dotted line -- but a truly interactive experience has to offer more than signing to close. Utilize pricing software to offer your client an engaging and personal experience beginning with the initial price discussions to the signatures at the end.
How Should I Display my SaaS Pricing?
Pricing shouldn't feel complicated, confusing or dull to the people you're trying to sell it to.
The future of showing SaaS pricing will be an interactive customized experience that's straightforward for potential customers to connect with and understand. This means your relationship with the office software that displays SaaS pricing should close for a complete overhaul of the SaaS pricing plan.
In order to refresh how you present SaaS pricing, concentrate on finding a pricing tool which is suited to your requirements. The following three areas are worth prioritizing when looking for the perfect tool are
1. Making use of a tool to help you work more efficiently by reducing time and improving your efficiency and team's efficiency in presenting your price proposition to potential customers
2. Engaging and stimulating purchasing experience for potential customers
3. Gaining an understanding of your pricing's performance using real-time data analysis.
More than ever before, it is important to save time and perform your work effectively. Don't be a slave to outdated and confusing pricing. It is possible and easy to adopt a fresh pricing method that lets you to be more efficient, and instead of harder, as well as increasing your chances of closing deals faster.
